Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: As of the date of this report, GMF has finalized rates through fiscal year 2020, and has been given provisional rates for fiscal year 2021, and onward, until amended. Based on the final approval rates through 2020, GMF has updated all grants accordingly. As such, GMF has elected to not use the 10% de minis indirect rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The German Marshall Fund of the United StatesA Memorial to the Marshall Plan and Subsidiaries (GMF) under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of GMF, it is not intended to and does not present the financial position, changes in net assets, or cash flows of GMF.